AMPFP’s Helmich steps aside as FPA committee chair
AMP Financial Planning’s director of advice-based distribution Steve Helmich has stepped aside as chairman of the FPA’s professional standards and ethics committee while the association investigates an enforceable undertaking (EU) made by the group to ASIC last week.
FPA chief executive Jo-Anne Bloch said Helmich had “undertaken to step aside” while a “detailed examination” of the AMPFP’s enforceable undertaking to ASIC in relation to super switching advice is underway.
In a letter distributed to members this week Bloch said the FPA will also be writing to AMP Financial Planning seeking further information with respect to FPA’s professional standards.
She said the FPA investigation would be “looking particularly at the need for further guidance to FPA members on any issues raised in the EU.
“AMPFP is an FPA principal member and, moreover, the issues raised have broad relevance to all licensees and their representatives,” Bloch said.
“I encourage all members to examine the enforceable undertaking, a public document, which can be downloaded from the ASIC website, www.asic.gov.au.
Recommended for you
AMP has cut its executive remuneration following shareholder pushback which sees chief executive Alexis George’s maximum-possible remuneration reduced by almost $1 million.
CoreData research has highlighted Australian financial advice practices are expanding beyond traditional financial advice and reinforcing the power of a professional network to build their service offering.
ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm.
South Australian financial advice firm Calder Wealth Management has announced a strategic partnership with a risk advice firm.
